The round marked the first investment by Torq Ventures , Sinqia's CVC programme, and also included the participation of Vox Capital, the main impact fund in Latin America, and boostLab , the technology business hub of BTG Pactual. Fintech was valued at 5x the value of the round held in 2020.
Founded in 2016, the startup was a pioneer in offering financial services infrastructure through APIs. Today, more than 170 clients such as banks, fintechs, digital portfolios, brokers, ERPs, marketplaces, mobile operators, and loyalty companies use the infrastructure of the Celcoin. In addition, more than 36 thousand banking correspondents are connected to the platform, enabling a wide range of financial services in their stores.
The startup's transaction volume has more than quadrupled in the last 12 months. Every month, more than eight million people transact a monthly financial volume more than BRL 1.5 billion through Celcoin. Within its Open Finance platform, the startup provides APIs for Pix, bill payment, mobile top-ups, deposits, and withdrawals on the Banco24Horas network and in retail, automatic debit, DDA, transport top ups, streaming platforms, games, among others functionalities.
At the beginning of 2021, it launched Open Banking APIs and already has dozens of customers, who seek simple access to their users' data in order to offer personalised products with better conditions. Celcoin also announced an operational agreement with Torq Labs, which provides for the distribution of its APIs to more than 500 Sinqia customers.
The investment will add to the company's cash generation and will accelerate product development, acquisition of startups that complement its API offer, and to complete the process of obtaining Payment Institution and Payment Transaction Initiator licenses - new entity created by BACEN to act in Open Banking.
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